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This particular "financial institution" is also classified as a "card club," but it faces some familiar FinCEN heat for the lack of an effective anti-money laundering program. For example, the AML program's section on the negotiable instruments log consisted solely of a highlighted phrase, "Describe Card Club procedures." [5/4/18]
Losses to senior citizens from financial abuse are estimated to be $3 billion last year alone. Banks and credit unions are on the front lines when it comes to detecting and reporting suspected instances of abuse. At the same time, they have an obligation to protect the privacy of their customers and respect their wishes to conduct lawful transactions. Amy Wargo of CU Solutions Group presents how financial institutions can navigate this delicate balance through effective employee training. Click here to watch now.
What makes the patented AffirmX Risk Intel Platform different than anything else out there? Take the next 3 minutes to see what this revolutionary tool can do for your financial institution. Watch Video